Shares in the world’s biggest liquor company by market cap plunged after disappointing third-quarter earnings

Shares in Kweichow Moutai, the world’s most valuable liquor company by market cap, slumped 10% on Monday, the biggest daily fall allowed on the Shanghai market. The dive came after the company, China’s most high-profile purveyor of national drink baijiu, reported a 4% rise in third-quarter sales, well below market expectations.